Furfural Market by Raw Material, Application and Region - Global Forecast to 2024

Japan, Japan, Tue, 20 Jul 2021 04:19:44 / Comserve Inc. / -- The furfural market size is estimated to grow from USD 551 million in 2019 and to USD 700 million by 2024, at a CAGR of 4.9% during the forecast period.

The furfural market size is estimated to grow from USD 551 million in 2019 and to USD 700 million by 2024, at a CAGR of 4.9% during the forecast period. The market is driven by the increasing use of various derivatives of furfural in different industries and shift toward green chemicals.

Corncob is estimated to be the fastest-growing raw material for the manufacturing of furfural. This is due to the high pentosan content in corncobs, resulting in a high yield of furfural. The majority of the furfural manufacturing plants in the world use corncobs.

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Furfural is majorly used in the manufacturing of furfural-based chemicals. Among the derivatives, furfuryl alcohol accounts for the largest consumption of furfural. This, in turn, is used in the manufacturing of furan resins. Apart from furfuryl alcohol, furfural is also used in the manufacturing of other derivatives such as THF, furoic acid, and tetrahydrofuranyl alcohol (THFA).

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Extensive primary interviews were conducted to determine and verify the market size of several segments and sub-segments and information gathered through secondary research.
The breakup of primary interviews is given below:
• By Company Type: Tier 1 – 60%, Tier 2 – 30%, and Tier 3 – 10%
• By Designation: C level –50%, Director Level – 30%, and Others – 20%
• By Region: Europe – 20%, APAC – 60%, Americas – 10%, Middle East & Africa – 10%


The leading players in the furfural market are Transfuran Chemicals (Belgium), Central Romana Corporation (Dominican Republic), Pennakem (US), Silvateam (Italy), Illovo Sugar (South Africa), Hongye Holding Group Corporation (China), KRBL(India), Lenzing (Austria), Tanin (Slovenia), and Shandong Crownchem Industries (China).
Research Coverage:
This research report categorizes the furfural market on the basis of raw material, application, and region. The report includes detailed information regarding the major factors such as drivers, restraints, challenges, and opportunities, influencing the growth of the market. A detailed analysis of the key industry players has been done to provide insights into business overviews, products, and key strategies associated with the market.
Key Benefits of Buying the Report
The report will help leaders/new entrants in this market in the following ways:
1. This report segments the furfural market comprehensively and provides the closest approximations of market sizes for the overall market and sub-segments across verticals and regions.

2. The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.

3. This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business.

TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKET SCOPE 15
1.3.1 REGIONS COVERED 15
1.3.2 YEARS CONSIDERED FOR THE STUDY 16
1.4 CURRENCY 16
1.5 UNIT CONSIDERED 16
1.6 LIMITATIONS 16
1.7 STAKEHOLDERS 16
2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 18
2.1.1.1 Key data from secondary sources 18
2.1.2 PRIMARY DATA 18
2.1.2.1 Key data from primary sources 19
2.1.2.2 Key industry insights 19
2.1.2.3 Breakdown of primary interviews 20
2.1.3 MARKET SIZE ESTIMATION 20
2.1.3.1 Market size estimation: top-down approach 21
2.1.3.2 Market size estimation: bottom-up approach 21
2.2 DATA TRIANGULATION 22
2.3 ASSUMPTIONS 23

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